TechNavio's analysts forecast the Hydraulic Component market in India to
grow at a CAGR of 14.20 percent over the period 2012-2016. One of the
key factors contributing to this market growth is the increasing demand
for earth-moving, material-handling, and mining equipment. The Hydraulic
Component market in India has also been witnessing the steady reduction
in delivery lead times. However, rising raw material prices could pose a
challenge to the growth of this market.

Commenting on the report, an analyst from TechNavio's Engineering team
said: ''A steady reduction in delivery lead time of hydraulic components
for the global manufacturers is one the main trends in the Hydraulic
Component market in India. Currently, several hydraulic component
manufacturers from both the EMEA region and the Americas are
increasingly outsourcing their manufacturing activities to India. This
is mainly because of the availability of low-cost labor and a skilled
workforce in the country. This increase in the outsourcing of
manufacturing activities leads to an increase in investments from both
domestic and international vendors. This drives the demand for the
Hydraulic Component market in India.''

According to the report, one of the main drivers is the increasing
demand for earth-moving, material-handling, and mining equipment across
the various states in India. Various hydraulic components such as
cylinders, pumps, motors, valves, and other accessories are increasingly
being used in this equipment for their applications and functions.